Telesat Corp (TSAT)

Market price: $45.55

1 valuation method

• P / B: $25.66 to $71.95 (midpoint $40.32)

What today’s price implies

This model grows free cash flow at the company's own recent rate of -10.0% a year for 3 years, then eases it down over the next 7 years to 2.5% — the rate a mature economy grows at, which is the standard ceiling for a perpetuity. For this DCF to equal today's price instead, free cash flow would have to grow 7.5% a year over that first 3-year period. That is the market's assumption, not ours.

How each method works

P / B: $25.66 to $71.95 (midpoint $40.32)

Values the stock at a peer multiple of its book (net asset) value — most meaningful for asset-heavy and financial companies whose balance sheet drives value.

How it’s calculated

We take book value per share (total assets minus total liabilities, from the latest balance sheet, divided by shares outstanding) and multiply it by the range of price-to-book multiples the peer group trades at.

Why it fits this industry

Where the balance sheet is the business — lenders, insurers, asset-heavy operators — the price the market pays for a dollar of net assets is a natural yardstick.

Reading this bar

The bar is the per-share value range this method implies: a conservative low, a central estimate, and an optimistic high. If the current price sits below the bar, the market is pricing the shares below what this method's inputs suggest; if it sits above, the market is pricing them higher. No single bar is a verdict — methods disagree for good reasons, so read the whole field together. Asset-light companies (brands, software) legitimately trade far above book value, so for them a P/B bar well below the price is usually structure, not signal.

P / B = (0.97/1.52/2.72)× book_value_per_share 26.48 ≈ 25.66/40.32/71.95 (per_share)

5 methods not shown

• EV / EBITDA: EBITDA is non-positive — an EBITDA multiple yields no meaningful enterprise value (loss-making at the EBITDA line)
• EV / Revenue: the market prices this company far outside its sector's EV / Revenue range (its own multiple is 12.64 vs a sector band of 1.43–3.80) — a sector-average bar would be misleading here, so it is withheld
• EV / Gross Profit: implied equity value at the midpoint is non-positive (-1,743,747,006.86) — enterprise value does not exceed net debt; no price bar
• P / E: diluted EPS is non-positive — P/E is not meaningful for a loss-making period
• DCF (FCFF): implied equity value at the midpoint is non-positive (-1,251,580,501.35) — enterprise value does not exceed net debt; no price bar

Limited data — fewer than three valuation methods could be formed for this company; showing every method we can stand behind.